SBD/30/Franchises

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  • COWBOYS ANNOUNCE MINORITY HIRING AND SPENDING PLAN

         Cowboys Owner Jerry Jones announced yesterday that 35% of
    all the team's dollars spent on goods and services will be spent
    with "certified minority businesses."  This is part of an
    agreement Jones has made with the NAACP to promote minorities
    within the Cowboys organization.  Jones also announced that three
    upper-level positions within the team will be filled by African-
    Americanss.  Other parts of the agreement: the Cowboys will
    establish a paid summer-jobs program for low-income and minority
    youths and a paid internship for ethnic minority college
    students; and, Jones will "conduct the Jerry Jones Annual
    Minority Business Training Seminar, a two-day conference that
    will give minority entrepreneurs an inside look at the business
    of sports" (Dwain Price, FORT WORTH STAR-TELEGRAM, 11/30).
    

    Print | Tags: Dallas Cowboys, Franchises
  • FRIDAY IS DEADLINE FOR LOCAL BUYERS IN A'S SALE

         Sacramento businessmen Fred Anderson and Kevin McClatchy are
    in the process of preparing a bid for the A's.  Friday is the
    deadline to find a local buyer for the team, and Anderson said,
    "I suspect we're going to put together some sort of formal
    offer."  Andersen, 70 is the President of Pacific Coast Building
    Products and Owner of the CFL's Sacramento Gold-Miners.
    McClatchy, 31, is heir to the McClatchy newspaper "empire."  If
    there are no offers by Friday, the current owners, the Haas
    family, have an "option to raise the (purchase) price and pursue
    outside buyers not bound to keep the team in Oakland.   They
    could also switch to a year-to-year lease with the Oakland
    Coliseum."  Anderson was hopeful his group would make a bid by
    Friday (Larry Stone, SAN FRANCISCO EXAMINER, 11/30).
    

    Print | Tags: CFL, Franchises, Oakland Athletics
  • LACK OF NBA LABOR DEAL WILL SAVE RAPTORS/GRIZZLIES BIG BUCKS

         The NBA has given both the Grizzlies and the Raptors a
    "respite worth almost C$70m each."  Since the NBA is currently
    operating without a collective bargaining agreement, the
    Candadian teams will not have to make a 40% installment payment
    on their US$125M expansion fees by December 1.  The payment, now
    due on March 1 or 30 days after a CBA is signed, is valued at
    around $50M.  NBA spokesperson Jan Hubbard: "The expansion
    agreement says that on the December 1st date, if there is no CBA,
    the payment date can be waived."  Both the Grizzlies and the
    Raptors declined comment, but Grizzlies managing partner Arthur
    Griffiths is "believed" to be "breathing a sigh of relief from a
    cash-flow point of view," since his Canucks are not generating
    revenue (Craig Daniels, TORONTO SUN, 11/30).
    

    Print | Tags: Franchises, Maple Leaf Sports and Entertainment, NBA, Canucks Sports and Entertainment, Toronto Raptors, Vancouver Canucks
  • NEXT PLEASE -- BUCS MEET WITH PROSPECTIVE OWNERS

         "On a busy day of sale related meeting at One Buccaneer
    Place," Bucs team trustee Steve Story met with three potential
    investors interested in the team -- Dixon Ticonderoga Owner Gino
    Pala, GA insurance exec Art Williams, Sr., and MO beer
    distributor Jerry Clinton.  Clinton, co-founder of St. Louis' NFL
    expansion bid, would likely move the team to St. Louis.
    Clinton's visit to Tampa was viewed as a "surprise" since St.
    Louis is the front-runner to get the Rams (Yasinskas & Stebbins,
    TAMPA TRIBUNE, 11/30).
         LINDEMANN'S SERIOUS INTEREST:  Florida multimillionaire
    George Lindemann reiterated his interest in the Bucs, but only at
    a certain price.  He says local investors are likely to be outbid
    for the team by out-of-state buyers who are willing to pay as
    much as $200M.  Lindemann: "If the trustees wish to sell it to an
    outside ownership group, they will get one price.  If they wish
    to keep it here, they will get another price."  Lindemann, who
    lost out on a bid last year for the Dolphins, said "he would
    consider Tampa Bay area investors but has the money to go it
    alone."  His representatives met with the Bucs trusts on November
    22 (John Stebbins, TAMPA TRIBUNE, 11/30).
    

    Print | Tags: Franchises, Miami Dolphins, NFL, St. Louis Rams, Tampa Bay Buccaneers
  • RAMS SAGA CONTINUES -- FANS DROPS TARGET DATE

         St. Louis' FANS Inc. dropped its target date of December 1
    to conclude negotiations with the Rams.  FANS spokesperson Tom
    Eagleton said some "vital issues remain which will take
    additional time to resolve."  The announcement is "a significant
    about face for FANS in less than three weeks time," as Eagleton
    said on November 11 that a deal should be done by December 1.
    Negotiations apparently are bogged down on details "involving the
    stadium lease and stadium operations."  Some members of FANS are
    also worried about the Permanent Seat Licensing plan, which would
    begin in January, questioning whether buyers will be willing to
    spend after the holidays.  FANS is now considering beginning the
    PSL sales campaign sooner, even before any announcement from the
    Rams, with the money to be refunded if the Rams don't come to St.
    Louis (Jim Thomas, ST. LOUIS POST-DISPATCH, 11/30).
         BANK OFFERS INCENTIVE TO RAMS: Heartland Mortgage, a
    division of Heartland Savings Bank of St. Louis, is offering all
    Rams personnel and employees a "special residential mortgage
    program" if the team moves to the city.  Heartland will waive its
    normal application fee of $325 and a discout of one-half point.
    Heartland sales manager Bryan Tucker: "In some small way, it
    shows some more support from St. Louis" (Jim Thomas, ST. LOUIS
    POST-DISPATCH, 11/30).
    

    Print | Tags: Franchises, St. Louis Rams
  • TAYLOR REACHES AGREEMENT ON TARGET CENTER LEASE

         Timberwolves buyer Glen Taylor has reached an agreement with
    the Metropolitan Sports Facilities Commission (MSFC) to finalize
    his team's lease at Target Center.  There had been speculation
    among the business community that Taylor was ready to back out of
    buying the team, which has "performed poorly on the court and at
    the gate."  But Taylor said any unraveling of the arena deal
    "won't be because of me ... I'm signing a 30-year lease.  I am in
    it for the long run."  Taylor and the MSFC agreed that the
    commission can finance the purchase of the Target Center from
    Wolves sellers Marv Wolfenshon and Harvey Ratner with "short-term
    variable-rate bonds rather than long-term fired-rate bonds."  All
    that is left to conclude the "public-private" Target Center deal
    is an agreement with Ogden Corp., which will manage the facility.
    Ogden VP Dana Warg was optimistic a deal could be completed by
    the December 31 deadline (Hartmann & Weiner, Minneapolis STAR-
    TRIBUNE, 11/30).
    

    Print | Tags: Franchises, Minnesota Timberwolves
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